Swap crypto or sell first then buy? - page 2.

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Quote from: kawetsriyanto on May 21, 2024, 04:38:51 PM

Quote from: JamesDaniel90 on May 16, 2024, 04:51:35 PM

I have a few altcoins that are doing pretty well and want to take profits soon to then reinvest into other altcoins that haven’t pumped yet and I am wondering if it is best to swap directly or sell my altcoin that is doing well into USDT and then buy the new altcoin I want with the USDT?

If you want to reinvest from shitcoins/memecoins/newcoins to the top coins with strong fundamentals, it is good idea. It means you relocate your funds to safer coins. I also already take profits on some coins that I assume they already hit the peak and look like difficult to continue increasing. Most of them are hype coins with weak fundamentals and new altcoins, these type of coins won't last a long time increasing their values. Even some new altcoins only increase the prices when it is launched in the exchange for the first time, after that they tend to decrease their values.

However, it is also good if you divide the profits. A half convert to USDT and the rest to reinvest to top coins. In this way, you can safe some profits but you still can continue to invest in safe coins. Sometimes, I choose this way if I think it won't be a really good time for using all the funds for collecting more coins. Just take a research first, it will help you to take a better decision!! Good luck... Wink

the decision to take profits and move them to the top coins is very important, our hope is that our investments will increase. However, what needs to be avoided is greed, which is if we invest in altcoins and get a lot of profit, but we don't take it and move it to the top altcoin which is safer, things like this can damage the growth of our investment in a better direction.

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Quote from: Godday on May 21, 2024, 11:11:12 AM

Quote from: Mate2237 on May 20, 2024, 04:02:43 PM

I sold some of the percentage of Bitcoin to invest in Ethereum and I can see the loss I made from the investment. I invested in Ethereum when the price was $3,658 and that is about 4 month now and till now the price has not reached $3,400 and I have sold 20% of the investment as lost price. Jumping from one coin to another is very dangerous. You can lost everything in the process.

And now ETH has hit 3,700 dollars. This means you have made a small profit if you still hold it. Maybe this is not a big profit because you bought it at $3,658. But this proves that if you have a conviction and you use cold money then you can still make a profit in crypto.

Jumping from one project to another is very risky. I prefer to stay in one project but it is a project with good fundamentals because I like to hold coins for the long term.

with spot trading or investment its always game of waiting, previous ath buyer of bitcoin already profit if they sell it now otherwise they lose same with ETH.
i personally never bought ATH but people could literally wait it out until price recover then they can avoid their losses but I think time is just too important for some people.

Quote from: woez on May 21, 2024, 10:40:51 AM

Quote from: senyorito123 on May 21, 2024, 09:55:11 AM

You can swap directly in an instant to see your profit as liquidity will show up once you hit the swap button, just make sure you have enough gas fee for the transaction. Using coinbase is reliable too, same with other cryptocurrency wallets like trustwallet, metamask and other trusted applications that caters swapping.

That's right and the platform you mentioned above provides swab services too. I often do this using metamask which is simpler, easier and faster without needing to connect here and there.

As for gas costs, it depends on the network, if it's busy, of course it's a bit expensive, but if you use BSC, I think it's still quite standard.

Just OP executes if he wants.. Grin

.

even ethereum right now having affordable gas already after the new dencun upgrade if im not mistaken where L2 right now can officially submit their transaction to main blockchain without the need to pay high gas fee.
it does helps a lot in swapping and I think whether exchange or swapping right now doesn't really have any difference.

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Quote from: Mate2237 on May 21, 2024, 04:14:51 PM

Quote from: rachael9385 on May 21, 2024, 03:57:04 PM

Quote from: Mate2237 on May 21, 2024, 03:30:45 PM

Quote from: Godday on May 21, 2024, 11:11:12 AM

Quote from: Mate2237 on May 20, 2024, 04:02:43 PM

I sold some of the percentage of Bitcoin to invest in Ethereum and I can see the loss I made from the investment. I invested in Ethereum when the price was $3,658 and that is about 4 month now and till now the price has not reached $3,400 and I have sold 20% of the investment as lost price. Jumping from one coin to another is very dangerous. You can lost everything in the process.

And now ETH has hit 3,700 dollars. This means you have made a small profit if you still hold it. Maybe this is not a big profit because you bought it at $3,658. But this proves that if you have a conviction and you use cold money then you can still make a profit in crypto.

Jumping from one project to another is very risky. I prefer to stay in one project but it is a project with good fundamentals because I like to hold coins for the long term.

There is no profit yet because when you buy a coin the buyer will pay you lower than the selling price at that time so the coins would reduce and before the coins will start to make profit is when the price hit $4,600. Therefore for now I am still at the losing side of the investment but the remaining coins will there for years to cone. There is a prediction that Ethereum will hit $10k in this bull run but that prediction is not really impressive because the movement of this coin is not encouraging me.

You are correct, so from my opinion, I think instead of you selling your coins because it's reducing due to price fluctuations, it's better to swap the coins to a stable one. For example one invested in Bitcoin and Bitcoin is reducing in price, it would be wise for the person to just swap the coins from BTC to USDT then wait for the perfect time then reswap it to BTC.
Swapping from Bitcoin to USDT will not take use of your time especially if the Bitcoin is inside an exchange. But selling and buying again will take a lot of time as you will have to wait for awhile so that the vendor can be able to pay, and in most cases, ones you sold your coins you might use the money because it's fiat and fists are easily spent.

No no no I don't don't do that to migrate from one coin to another. No. I invested to the coin because I like the coin so there is no need to swap or convert to another because of the price fluctuations. No cryptocurrency is 100% stable and all have their specific time that it moves up and down. The only stable Currency I know was the National Fiat money but in these days, Fiat money is more volatile like the Cryptocurrencies.

And I will use my country economy to show example. People are buying naira now to hodle till when it rise in price then sell it. And the government is doing that and that is why they don't want to stop the inflation in the country.

Well, what I am trying to say is that instead of anyone selling their coins because of the way Bitcoin's price is fluctuating downward, it's better for them to swap their coins to a stable one. My reasons for saying this is because the time that will be consumed for the person to sell and wait for the Marchant to credit before he will release coins might be too much and if the person who's selling is in a hurry to attend or do something else, he should only swap the coins and keep. Besides, after selling coins into fiat currency, there might be an emergency, and you won't know when you will use the money to solve it. Yes, there's no coin that's 100% stable, but there are some that are 90% stable.

Quote

Swap crypto or sell first, then buy?

Why I am talking about swapping and from one coins to another is because of the topic of this thread.

kawetsriyanto

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Quote from: JamesDaniel90 on May 16, 2024, 04:51:35 PM

I have a few altcoins that are doing pretty well and want to take profits soon to then reinvest into other altcoins that haven’t pumped yet and I am wondering if it is best to swap directly or sell my altcoin that is doing well into USDT and then buy the new altcoin I want with the USDT?

If you want to reinvest from shitcoins/memecoins/newcoins to the top coins with strong fundamentals, it is good idea. It means you relocate your funds to safer coins. I also already take profits on some coins that I assume they already hit the peak and look like difficult to continue increasing. Most of them are hype coins with weak fundamentals and new altcoins, these type of coins won't last a long time increasing their values. Even some new altcoins only increase the prices when it is launched in the exchange for the first time, after that they tend to decrease their values.

However, it is also good if you divide the profits. A half convert to USDT and the rest to reinvest to top coins. In this way, you can safe some profits but you still can continue to invest in safe coins. Sometimes, I choose this way if I think it won't be a really good time for using all the funds for collecting more coins. Just take a research first, it will help you to take a better decision!! Good luck... Wink

Mate2237

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Quote from: rachael9385 on May 21, 2024, 03:57:04 PM

Quote from: Mate2237 on May 21, 2024, 03:30:45 PM

Quote from: Godday on May 21, 2024, 11:11:12 AM

Quote from: Mate2237 on May 20, 2024, 04:02:43 PM

I sold some of the percentage of Bitcoin to invest in Ethereum and I can see the loss I made from the investment. I invested in Ethereum when the price was $3,658 and that is about 4 month now and till now the price has not reached $3,400 and I have sold 20% of the investment as lost price. Jumping from one coin to another is very dangerous. You can lost everything in the process.

And now ETH has hit 3,700 dollars. This means you have made a small profit if you still hold it. Maybe this is not a big profit because you bought it at $3,658. But this proves that if you have a conviction and you use cold money then you can still make a profit in crypto.

Jumping from one project to another is very risky. I prefer to stay in one project but it is a project with good fundamentals because I like to hold coins for the long term.

There is no profit yet because when you buy a coin the buyer will pay you lower than the selling price at that time so the coins would reduce and before the coins will start to make profit is when the price hit $4,600. Therefore for now I am still at the losing side of the investment but the remaining coins will there for years to cone. There is a prediction that Ethereum will hit $10k in this bull run but that prediction is not really impressive because the movement of this coin is not encouraging me.

You are correct, so from my opinion, I think instead of you selling your coins because it's reducing due to price fluctuations, it's better to swap the coins to a stable one. For example one invested in Bitcoin and Bitcoin is reducing in price, it would be wise for the person to just swap the coins from BTC to USDT then wait for the perfect time then reswap it to BTC.
Swapping from Bitcoin to USDT will not take use of your time especially if the Bitcoin is inside an exchange. But selling and buying again will take a lot of time as you will have to wait for awhile so that the vendor can be able to pay, and in most cases, ones you sold your coins you might use the money because it's fiat and fists are easily spent.

No no no I don't don't do that to migrate from one coin to another. No. I invested to the coin because I like the coin so there is no need to swap or convert to another because of the price fluctuations. No cryptocurrency is 100% stable and all have their specific time that it moves up and down. The only stable Currency I know was the National Fiat money but in these days, Fiat money is more volatile like the Cryptocurrencies.

And I will use my country economy to show example. People are buying naira now to hodle till when it rise in price then sell it. And the government is doing that and that is why they don't want to stop the inflation in the country.

rachael9385

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Quote from: Mate2237 on May 21, 2024, 03:30:45 PM

Quote from: Godday on May 21, 2024, 11:11:12 AM

Quote from: Mate2237 on May 20, 2024, 04:02:43 PM

I sold some of the percentage of Bitcoin to invest in Ethereum and I can see the loss I made from the investment. I invested in Ethereum when the price was $3,658 and that is about 4 month now and till now the price has not reached $3,400 and I have sold 20% of the investment as lost price. Jumping from one coin to another is very dangerous. You can lost everything in the process.

And now ETH has hit 3,700 dollars. This means you have made a small profit if you still hold it. Maybe this is not a big profit because you bought it at $3,658. But this proves that if you have a conviction and you use cold money then you can still make a profit in crypto.

Jumping from one project to another is very risky. I prefer to stay in one project but it is a project with good fundamentals because I like to hold coins for the long term.

There is no profit yet because when you buy a coin the buyer will pay you lower than the selling price at that time so the coins would reduce and before the coins will start to make profit is when the price hit $4,600. Therefore for now I am still at the losing side of the investment but the remaining coins will there for years to cone. There is a prediction that Ethereum will hit $10k in this bull run but that prediction is not really impressive because the movement of this coin is not encouraging me.

You are correct, so from my opinion, I think instead of you selling your coins because it's reducing due to price fluctuations, it's better to swap the coins to a stable one. For example one invested in Bitcoin and Bitcoin is reducing in price, it would be wise for the person to just swap the coins from BTC to USDT then wait for the perfect time then reswap it to BTC.
Swapping from Bitcoin to USDT will not take use of your time especially if the Bitcoin is inside an exchange. But selling and buying again will take a lot of time as you will have to wait for awhile so that the vendor can be able to pay, and in most cases, ones you sold your coins you might use the money because it's fiat and fists are easily spent.

Mate2237

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Quote from: Godday on May 21, 2024, 11:11:12 AM

Quote from: Mate2237 on May 20, 2024, 04:02:43 PM

I sold some of the percentage of Bitcoin to invest in Ethereum and I can see the loss I made from the investment. I invested in Ethereum when the price was $3,658 and that is about 4 month now and till now the price has not reached $3,400 and I have sold 20% of the investment as lost price. Jumping from one coin to another is very dangerous. You can lost everything in the process.

And now ETH has hit 3,700 dollars. This means you have made a small profit if you still hold it. Maybe this is not a big profit because you bought it at $3,658. But this proves that if you have a conviction and you use cold money then you can still make a profit in crypto.

Jumping from one project to another is very risky. I prefer to stay in one project but it is a project with good fundamentals because I like to hold coins for the long term.

There is no profit yet because when you buy a coin the buyer will pay you lower than the selling price at that time so the coins would reduce and before the coins will start to make profit is when the price hit $4,600. Therefore for now I am still at the losing side of the investment but the remaining coins will there for years to cone. There is a prediction that Ethereum will hit $10k in this bull run but that prediction is not really impressive because the movement of this coin is not encouraging me.

Godday

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Quote from: Mate2237 on May 20, 2024, 04:02:43 PM

I sold some of the percentage of Bitcoin to invest in Ethereum and I can see the loss I made from the investment. I invested in Ethereum when the price was $3,658 and that is about 4 month now and till now the price has not reached $3,400 and I have sold 20% of the investment as lost price. Jumping from one coin to another is very dangerous. You can lost everything in the process.

And now ETH has hit 3,700 dollars. This means you have made a small profit if you still hold it. Maybe this is not a big profit because you bought it at $3,658. But this proves that if you have a conviction and you use cold money then you can still make a profit in crypto.

Jumping from one project to another is very risky. I prefer to stay in one project but it is a project with good fundamentals because I like to hold coins for the long term.

woez

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Quote from: senyorito123 on May 21, 2024, 09:55:11 AM

You can swap directly in an instant to see your profit as liquidity will show up once you hit the swap button, just make sure you have enough gas fee for the transaction. Using coinbase is reliable too, same with other cryptocurrency wallets like trustwallet, metamask and other trusted applications that caters swapping.

That's right and the platform you mentioned above provides swab services too. I often do this using metamask which is simpler, easier and faster without needing to connect here and there.

As for gas costs, it depends on the network, if it's busy, of course it's a bit expensive, but if you use BSC, I think it's still quite standard.

Just OP executes if he wants.. Grin

.

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Quote from: JamesDaniel90 on May 16, 2024, 04:51:35 PM

Hi,

I have a few altcoins that are doing pretty well and want to take profits soon to then reinvest into other altcoins that haven’t pumped yet and I am wondering if it is best to swap directly or sell my altcoin that is doing well into USDT and then buy the new altcoin I want with the USDT?

I use Coinbase mainly so wondering which way is best to do it or is there not really much difference?

You can swap directly in an instant to see your profit as liquidity will show up once you hit the swap button, just make sure you have enough gas fee for the transaction. Using coinbase is reliable too, same with other cryptocurrency wallets like trustwallet, metamask and other trusted applications that caters swapping.

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Quote from: JamesDaniel90 on May 16, 2024, 04:51:35 PM

I have a few altcoins that are doing pretty well and want to take profits soon to then reinvest into other altcoins that haven’t pumped yet and I am wondering if it is best to swap directly or sell my altcoin that is doing well into USDT and then buy the new altcoin I want with the USDT?

I use Coinbase mainly so wondering which way is best to do it or is there not really much difference?

I do not think that there is a big difference between these two things. Don't get me wrong I am not saying that we are going to face a lot of trouble if we do one or the other, we are going to realize that both of them are quite normal and we shouldn't really see difference. I have done both and there wasn't any difference at all.

The reality is that not a lot of swapping options do exist in most places, so you are dealing with places that you do not like, that is why I end up selling first and then buying later because that is the option I am given, not because that is better but because that is what the dexo r the cex I am using offers at the moment, which makes things a lot better. I do not think that it will be cared or have financial consequences to pick one.

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Quote from: Bravut on May 18, 2024, 03:11:27 PM

I don't suggest he swaps considering he made profits off the token. It a great idea of converting to fait, and withdraw. Also mapping out the money to be invested in the other wether it worth it or you re-invest.

But still be cautious of Altcoins, make profit and withdraw nothing is certain, invest in Bitcoin which has proven and not mere pump and dump coin.

We all are in for the profit, so if a token that we currently have, earns it for us, then they are worthy to keep except only if we are 100 percent sure that they will collapse later on. If the platform allows, we can just swap them right away to the other coin of our choice as I think that is much easier and maybe we can save some transaction fees with that than doing it the other way around.

Holding a crypto is better than having a fiat in terms of inflation and with the popularity cryptos currently have, it is now possible to use them directly. Soon, fiats might even become obsolete which is better and a dream come true of a crypto enthusiast like me.

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Quote from: KiaKia on May 17, 2024, 11:39:54 AM

Not a good plan, most people have done this and in the end they would have done better if they held the first coins, the thing is it's not easy to find gems.

...stop jumping from one to another project.

Exactly It is not idea to sell one coin and invest in a lower project, that calculation might run at lost because the risky there very high. You have been investing in a particular token or coin and the coin has declined or reduce in price and you just like to invest in another coin that is more lower than the present coin you are investing so that you will gain more, hey mate, experienced is the best teacher, I have done that and I don't think I will advise someone to do that again because you will lose the more.

I sold some of the percentage of Bitcoin to invest in Ethereum and I can see the loss I made from the investment. I invested in Ethereum when the price was $3,658 and that is about 4 month now and till now the price has not reached $3,400 and I have sold 20% of the investment as lost price. Jumping from one coin to another is very dangerous. You can lost everything in the process.

DiMarxist

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If there is swap option then I advise you to do that because if you sell it, the total coins will not complete and after selling them and you buy the coin you are talking about or like to swap. The total number will not complain again because the buyer must have his cut for the profit would make so the best way to go about this is to swap it and not to sell and reinvest again that will not benefit you.
And I will say you should stay (invest) were you are because you don't know the outcome of the project you want to swap to. If the coin or token is doing well for you, just sell it and take the profit.

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Quote from: JamesDaniel90 on May 16, 2024, 04:51:35 PM

Hi,

I have a few altcoins that are doing pretty well and want to take profits soon to then reinvest into other altcoins that haven’t pumped yet and I am wondering if it is best to swap directly or sell my altcoin that is doing well into USDT and then buy the new altcoin I want with the USDT?

I use Coinbase mainly so wondering which way is best to do it or is there not really much difference?

You have made a profit in your investment already, so it is better you sell it for USDT first. Wanting to invest in another altcoin immediately after earning profits from your earlier investment is not advisable now. Other altcoins you want to invest in, do as much research about them to know their potential of giving you plenty profit in the long run just as this one has given you. If you think too much about the transaction fees to buy later, that would only make be at an higher risk if you’re not sure of the coins potential that you’re swapping to. Take your time to get as many confirmations before continuing with the choice that will give you good profit. The good part of the initial investment is that, your aim of investing to get profit has already been achieved, so take your time before making the next choice of investments because of the long time effects of altcoins of not trusting very well for a positive outcome after investment.

Jose Mourinho

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In my opinion, selling first and buying another coin is a better way than exchanging it for another coin, because the gas costs of selling and exchanging have different costs and it is clear that selling is lower than exchanging.

andyou1234

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In my opinion, if the coin you are holding has made a profit, it's best to sell the coin first and buy another coin that has the potential to provide a profit in the future, but if you want to exchange the coin for another coin then you're afraid, the transaction fees that may be charged will be very large later even if you exchange it for a stable coin first such as USDT,

Freddie Boyer

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If you want to do a swab first look at the value you are swabbing and target a coin that really has a good chance of buying it later, or if the price is high, convert it to USDT first while waiting for your target coin to drop even lower.

I don't think we will lose if we don't make a purchase for just one day and survive for a while with USDT. When it's time, buy back into your trading account for the coin you want.

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It's better to sell first and get some decent income from your profit and buy some things that make you remember your successful stories as a crypto investor and that will make you motivated to wait for a bull run next time or for the price to increase. Also, you can spend it on other things like investing it in some small business which you can do in your place because others have bought agricultural lots with their earnings to make their investment expand further without focusing on cryptocurrencies at all. Because converting it all into other altcoins is risky and not recommended.

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Quote from: JamesDaniel90 on May 16, 2024, 04:51:35 PM

Hi,

I have a few altcoins that are doing pretty well and want to take profits soon to then reinvest into other altcoins that haven’t pumped yet and I am wondering if it is best to swap directly or sell my altcoin that is doing well into USDT and then buy the new altcoin I want with the USDT?

I use Coinbase mainly so wondering which way is best to do it or is there not really much difference?

In terms of the ending it may be the same and there is no significant difference in that because in the end you just want to exchange the old altcoin so you can buy a new altcoin on the market. And it wouldn't be wrong for you to choose the option of selling the old altcoin for USDT and then using the USDT to buy another altcoin, because currently there are still quite a lot of USDT pairs among all altcoins. However, if you have the option to exchange it directly, I think that is also better as long as you don't incur excessive fees for this action.

Topic: Swap crypto or sell first then buy? - page 2. (Read 600 times)